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Co-Operative Bank (42RQ)

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Thursday 23 April, 2015

Co-Operative Bank

Director Appointment - Charles Bralver

RNS Number : 0995L
Co-Operative Bank PLC (The)
23 April 2015
 



Non-Executive Director of Co-operative Bank Appointed

The Co-operative Bank p.l.c. (the "Bank") has appointed Charles Bralver as a Non-Executive Director with effect from 23 April 2015. He was nominated under the terms of the Shareholder Rights Agreement by an affiliate of Silver Point Capital L.P. (together "Silver Point"), a shareholder in the Bank.  Under the terms of the Agreement, which was entered into in May 2014 as part of the £400m equity capital raising, the Bank granted two of its largest shareholders each the right to nominate a Director.  Silver Point has nominated Charles whose appointment has been approved by the Bank's Board and by the Bank's regulators.  Charles Bralver is a Senior Advisor on the global financial services sector to Silver Point and for the purposes of the UK Corporate Governance Code he will not be independent. 

Charles was a founding partner of Oliver Wyman & Company where from 1984 through to 2007, he held several positions, including Vice Chairman, Head of Europe, Head of North America, and Head of the Global Capital Markets Practice, and remains a member of Oliver Wyman's Senior Advisory Board. Charles is currently a Board Director for Canaccord Genuity and Newstar Financial.  He has over 30 years' financial services experience, including two years as a Strategic Advisor on Financial Services at Warburg Pincus LLC. He is the former Senior Associate Dean for International Business and Finance at the Fletcher School of Law and Diplomacy at Tufts University in Boston, USA. 

 

Investor enquiries:

 

Jonathan Berger, Head of Investor Relations: +44 (0) 7595 567 502

 

 

 

Media enquiries:

David Masters: +44 (0) 7825 427514

Tony Langham: +44 (0) 7979 692287

 

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to almost 5 million retail and SME (Small and Medium Sized Enterprises) customers. The Bank is committed to values and ethics in line with the principles of the co-operative movement. The Co-operative Bank is
authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Co-operative Bank plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.


This information is provided by RNS
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